POSCO ponders Shagang purchase
The world's fifth largest steelmaker, South
Korea's POSCO, is reportedly searching for ways to expand its operations in
China.
Although the company has not released an official acknowledgement yet, Zhangjiagang-based Jiangsu
Shagang Group Co Ltd (
Shagang) is rumored as a likely takeover target for POSCO.
POSCO's history with
Shagang dates back to 1997, when the two companies established the Zhangjiagang POSCO
Stainless Steel (ZPSS) joint venture.